Leavell Investment Management Inc. cut its position in Waste Management, Inc. (NYSE:WM) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,659 shares of the business services provider’s stock after selling 1,200 shares during the period. Leavell Investment Management Inc.’s holdings in Waste Management were worth $3,202,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bank purchased a new position in Waste Management during the first quarter worth about $131,000. Berkshire Asset Management LLC PA boosted its position in shares of Waste Management by 3.6% in the first quarter. Berkshire Asset Management LLC PA now owns 292,998 shares of the business services provider’s stock worth $21,365,000 after buying an additional 10,054 shares in the last quarter. Tompkins Financial Corp boosted its position in shares of Waste Management by 0.9% in the first quarter. Tompkins Financial Corp now owns 39,064 shares of the business services provider’s stock worth $2,305,000 after buying an additional 352 shares in the last quarter. Atria Investments LLC boosted its position in shares of Waste Management by 101.2% in the first quarter. Atria Investments LLC now owns 10,380 shares of the business services provider’s stock worth $757,000 after buying an additional 5,220 shares in the last quarter. Finally, Hall Laurie J Trustee boosted its position in shares of Waste Management by 0.5% in the first quarter. Hall Laurie J Trustee now owns 18,380 shares of the business services provider’s stock worth $1,347,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
Waste Management, Inc. (WM) traded down 0.2797% during midday trading on Thursday, reaching $75.0196. The company’s stock had a trading volume of 482,023 shares. Waste Management, Inc. has a one year low of $61.08 and a one year high of $76.00. The stock’s 50 day moving average price is $74.41 and its 200-day moving average price is $72.81. The stock has a market cap of $33.01 billion, a price-to-earnings ratio of 25.6916 and a beta of 0.71.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. On average, analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
WM has been the topic of a number of recent research reports. Oppenheimer Holdings, Inc. raised their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Thursday, June 22nd. BMO Capital Markets initiated coverage on Waste Management in a report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 target price on the stock. Stifel Nicolaus raised their target price on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Credit Suisse Group raised their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Waste Management presently has a consensus rating of “Hold” and an average price target of $75.24.
In other Waste Management news, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total value of $252,665.00. Following the completion of the transaction, the chief executive officer now owns 151,162 shares in the company, valued at $10,912,384.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,940 shares of company stock valued at $575,603. Insiders own 0.19% of the company’s stock.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
Receive News & Ratings for Waste Management Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
